The Future of Consumerist

Over the last twelve years, Consumerist has been a steadfast proponent and voice on behalf of consumers, from exposing shady practices by secretive cable companies to pushing for action against dodgy payday lenders. Now, we’re joining forces with Consumer Reports, our parent organization, to cultivate the next generation of consumer advocacy.

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After JPMorgan Chase CEO Jamie Dimon complained over how the rich have to pay so much in income taxes, claiming he and his fellow wealthy “wage-earners” end up shelling out 50% of their incomes to the government, we took the chance to ask the White House what they thought of that.

Deputy Director of the National Economic Council Brian Deese explains that the country’s “most fortunate” — around 300,000 of the wealthiest (we’re looking at you, Dimon) — would accept a “fiscally responsible” small increase in taxes in order to lower taxes for 160 million American families, to the tune of an additional $1,500 in the pockets of those families.

“It would help support the economy and support growth,” said Deese, “And would be among the most effective bang for the buck — this targets families most likely to go out and use that money. Congress will not leave until that’s finished.”

As to Dimon’s complaints that the rich are painted as bad guys, Deese simply pointed out the challenges posed by the inequality of wealth in this country. He says between 2001 and 2008, the share of income for the wealthiest few grew, while the median income for a typical family fell for the first time during an economic expansion since World War II.

“Many of the wealthiest Americans have come forward and said they’d happily pay more taxes if it meant we had the right economic policies in this country,” said Deese.